tiprankstipranks
Energean Divests Assets for Enhanced Focus and Growth
Company Announcements

Energean Divests Assets for Enhanced Focus and Growth

Energean (GB:ENOG) has released an update.

Don't Miss Our Christmas Offers:

Energean plc has announced the strategic sale of its Egyptian, Italian, and Croatian asset portfolio to Carlyle-controlled entity for up to $945 million, a significant boost from its original acquisition value. The deal includes upfront cash, working capital adjustments, a vendor loan, and additional contingent payments based on future production and commodity prices. This strategic move will enable Energean to focus on its core gas-weighted assets, streamline operations, and advance its Net Zero commitments, while also planning a generous shareholder dividend post-completion.

For further insights into GB:ENOG stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks UK Auto-Generated NewsdeskEnergean Israel Reports Strong Financial Growth in 2024
TipRanks UK Auto-Generated NewsdeskEnergean PLC Shows Strong Growth and Strategic Focus
TipRanks UK Auto-Generated NewsdeskEnergean Announces 3Q 2024 Dividend Details
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App